This sum was augmented by €3.8bn of net inflows in January which the company says was driven by competitive positioning as well as innovative solutions both in terms of core offerings and specialised strategies.
The total AUM places Amundi fourth in the list of the biggest providers, overtaking UBS in fourth and ahead of Vanguard in sixth.
According to the ETF Global review from Deutsche Bank released at the end of January, first place in the list is BlackRock iShares which has as of the last quarter of last year had a total of around €289bn in assets in Europe or a whopping 46% of the total market.
Next comes Xtrackers with around €68bn or just under 11% of the market and then comes Lyxor with €61bn or just over 9%.
In terms of market share, Amundi gained 20 basis points over the year while UBS lost 60 basis points of market share.
Amundi says it has captured "significant inflows" in European ETFs particularly with regard to merging market ETFs, where its inflows represented 30% of the total inflows last year and close to 35% of inflows targeting European equities. It also says it captured 25% of inflows targeting world government bonds in 2018.
Breaking for the borderUsing the European success as a launchpad, Amundi has also sought further global expansion within the past few years, including listing 19 flagship UCITS ETFs on the Mexican Stock Exchange (BMV) in order to serve increasing demand for UCITS ETFs by Mexican investors.
"We continued to benefit from the ongoing shift towards passive solutions, which has been further boosted by the greater transparency brought about by MiFID II," said Fannie Wurtz, "We are confident the positive trend will continue in 2019, based on strong inflows recorded in January this year."
Amundi says there are three areas of focus of the business going forward, including meeting the rising demand for ETF solutions from distributors, moving further into the provision of ESG-based products with passive investment and further expanding its UCITS framework globally.
The Deutsche Bank review shows that Amundi falls down the list of providers when looked at globally, lying in 12th place with a total of €44bn AUM.
The report showed that overall European ETF assets fell 4.3% in 2018 to end the year at €663bn.